The March derivative expiry day saw the benchmark Nifty breaking 8,500-level by dropping 2.21 percent on across the board sell-off in frontline shares of Banking and Financials, Metal, Realty, Auto, Energy, IT, Pharma, FMCG taking index to longest stint of seven session fall since January 2015.
A combined sets of distressing news of intensifying conflict in yemen leading to Saudi Arabian Airstrikes, resulting spike in crudeoil prices drained major stock market across the globe, casting shadow over emerging markets including India.
The Indian market already pinned under lack of trigger as well as caution due to march derivative expiry further strafed by fall in rupee leading to investors offloading shares.
The broad-based 50-share Nifty opened gap-down at 8,474.95 and hovered between 8,499.45 and 8,325.15 before ending at 8,342.15, showing a fall of 188.65 points, or 2.21 per cent. (the fall not seen since Jan 6,2015).
Index wise Banks fell 2.61 per cent, private Finances 3.25 per cent, PSU banks 3.12 per cent, Metal 2.36 per cent, IT 2.65 per cent, Pharma 1.88 per cent, Realty 1.75 per cent, Auto 1.53 per cent, Energy 1.48 per cent and FMCG 1.33 per cent. While MidCap and Smallcap performed better than frontline shares by lossing nearly 1 per cent.
Stockwise, HDFC fell by 5.23 per cent, PNB 4.73 per cent, Wipro 4.42 per cent, SSLT 4.32 per cent, DLF 3.48 per cent, Infy 3.28 per cent, SBIN 3.30 per cent, Axis Bank 3.18 per cent, ICICI Bank 2.82 per cent, HDFC bank 2.64 per cent, TCS 2.36 per cent and Reliance 1.85 per cent,
Turnover in the cash segment jumped to Rs 23,723.88 crore against Rs 16,400.97 crore yesterday. A total of 9,479.94 lakh shares changed hands in 74,52,124 trades. The market capitalisation at NSE stood at Rs 97,41,589 crore.
Elsewhere, Asian markets closed mixed reacting sharp fall US stocks.
Meanwhile, Foreign Portfolio Investors (FPIs) bought shares worth a net Rs 813.19 crore yesterday as per provisional data.
